Banque Pictet & Cie SA Acquires 9,050 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Banque Pictet & Cie SA increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 236.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,880 shares of the investment management company’s stock after buying an additional 9,050 shares during the quarter. Banque Pictet & Cie SA’s holdings in The Goldman Sachs Group were worth $7,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Stephens Consulting LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $26,000. West Branch Capital LLC purchased a new stake in The Goldman Sachs Group in the third quarter worth $30,000. DT Investment Partners LLC grew its position in shares of The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of The Goldman Sachs Group in the third quarter valued at $34,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of The Goldman Sachs Group in the third quarter valued at $38,000. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Alex S. Golten sold 5,208 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the transaction, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. The trade was a 59.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,475 shares of company stock valued at $19,692,543. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GS. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Oppenheimer reduced their target price on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, UBS Group boosted their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Trading Up 1.9 %

Shares of GS stock opened at $661.56 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The business has a 50-day moving average price of $603.93 and a two-hundred day moving average price of $550.81. The Goldman Sachs Group, Inc. has a 12-month low of $379.14 and a 12-month high of $663.87. The firm has a market cap of $205.38 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the previous year, the company posted $5.48 EPS. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.